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SeaWorld Entertainment Inc Stock Shoots Higher on Positive Attendance News

SEAS' Q1 results were also solid

SeaWorld Entertainment Inc (NYSE:SEAS) stock was performing well Tuesday on positive attendance news for the first quarter of 2018.

During the first quarter of the year, SeaWorld Entertainment Inc saw its attendance come in at 3.22 million visitors. This represents an almost 15% increase over its attendance of 2.81 million visitors for the first quarter of 2017.

“Our first quarter results were mainly driven by our new marketing and communications initiatives, the anticipation and receptivity of our new rides, attractions and events and new promotional pricing strategies,” John Reilly, Interim CEO of SeaWorld Entertainment Inc, said in a statement. “Attendance also benefited from the earlier timing of the Easter holiday in 2018.”

To go along with the positive attendance news for the first quarter of the year is revenue of $217.17 million. This is better than SeaWorld Entertainment Inc’s revenue of $186.36 million reported in the same period of the year prior. It also easily beat out Wall Street’s revenue estimate of $198.96 million and was a boon to SEAS stock.

Losses per share reported by SeaWorld Entertainment Inc for the first quarter of 2018 came in at 73 cents. This is wider than its losses per share of 72 cents from the same quarter of the previous year. However, it still came in above analysts’ losses per share estimate of 78 cents for the period.

SeaWorld Entertainment Inc notes that net loss reported in the first quarter of the year was $62.80 million. The amusement park company’s net loss from the same time last year was $61.10 million. SEAS points out that it typically takes a loss in the first quarter of the year due to only five of its 12 parks being open.

Operating loss reported by SeaWorld Entertainment Inc for the first quarter of 2018 was $66.15 million. This is an improvement over its operating loss of $76.74 million reported in the first quarter of last year.

SEAS stock was up 9% as of noon Tuesday.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2018/05/seaworld-stock-jumps-on-attendance-increase/.

©2019 InvestorPlace Media, LLC